International gold prices remain high and fluctuate within a narrow range, with market trading sentiment cautious, and bulls and bears competing at key price levels. Traders are focused on the easing expectations of the US-Iran resuming diplomatic talks and the uncertainty surrounding the expiration of the Middle East ceasefire agreement. Safe-haven demand and risk appetite are intertwined, and the short-term direction of gold prices is unclear.

Spot gold prices are basically unchanged, maintaining around $4,823.43 per ounce. The warming of US-Iran diplomacy has caused some safe-haven funds to exit, suppressing gold prices; the ceasefire window is closing, and the situation is uncertain, compounded by global central banks' gold purchases and expectations of interest rate cuts, supporting gold prices.

The gold market has entered a period sensitive to news, with short-term trends depending on US-Iran negotiations and subsequent ceasefire arrangements. Unexpected signals could break the consolidation pattern.